March 20, 2012

 

NSW will be offered an extra $561 million during the next five years if it agrees to an overhaul of its vocational education training sector to produce the workers necessary to keep the economy moving.

The money will be part of $1.75 billion extra the Prime Minister, Julia Gillard, will put on the table for the states at the Council of Australian Governments meeting next month to encourage all states and territories to agree to the reforms.

NSW was already in line for $2.3 billion in skills funding from 2012-13 to 2016-17, which means the extra money will push that total close to $2.9 billion.

Ms Gillard has been warning that the nation needs to increase its skills base if the workforce is to adapt to the changing economy.

She has already announced that HECS-style loans – previously provided only to university students – will be made available for advanced diploma courses in fields such as information technology, childcare, aged care, engineering and telecommunications.

Other diploma students will be eligible for subsidies of up to $7800 a year.

Today, Ms Gillard is expected to expand significantly on extra inducements and reforms she wants the states to adopt when COAG meets on April 13.

These are expected to include more harmonisation of courses across Australia, more incentives to upgrade skills, and partnerships with industries seeking specific skilled workers.

A report to be released today, titled Skills for all Australians, says the government will expect “additional effort and system reform” in return for the money it is offering.

“The Commonwealth strongly believes that our training system must be aligned with industry and focused on meeting the needs of our changing economy,” it says.

“Simply funding additional training places is no longer an adequate response in an environment where international and domestic pressures are changing the way we do business.

“All governments must work to create the national training system … that more businesses can partner with to develop their workforces, where more students can get the basic qualification they need for a decent job in a higher-skills economy, where disadvantaged individuals and regions participate fully.”

Last week government modelling by Skills Australia showed a stark shortage of skilled workers in Sydney and regional NSW.

It found that by 2015 NSW would need an extra 180,000 trade or certificate workers, and 144,000 more diploma-qualified workers to meet demand. Almost 4.1 million people nationally, and 1.3 million in NSW, could be earning up to $10,000 a year more if they qualified to work in a growth sector of the economy.

The government says the extra $1.75 billion will not stop it returning the budget to surplus next financial year.

Source:  National Times  PHILLIP COOREY   19 Mar, 2012

July 16, 2010
July 16, 2010

Automotive/Mechanical in September

The skill requirements for Australia for the next few years have been identified, with Diesel Mechanics being highlighted as a key requirement.  This is a good sign for students who wish to put their skills into practice as the economy starts to wind back up again.

For further information about the course and availability in September, please contact us or fill out the form.

 

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July 8, 2010

The jobs market continues to grow at a blockbuster pace and keeps the Reserve Bank on course to resume raising interest rates once it is satisfied Europe’s troubles have subsided.

New labour force data released on Thursday – showing another 45,900 people had found work last month – coincided with a warning from the International Monetary Fund (IMF) that downside risks to world economic growth have intensified.

In its World Economic Outlook Update released in Hong Kong on Thursday, the IMF has upgraded its world growth forecast for 2010 because of “stronger activity during the first half of the year”.

“(But) downside risks have risen sharply amid renewed financial turbulence,” it said.

The 45,900 seasonally adjusted jump in Australian employment in June was three times larger than predicted by economists, and included a further 18,400 people finding full-time work.

The jobless rate was 5.1 per cent in June, unchanged from May after revisions, and having been originally reported as 5.2 per cent.

The rate is the lowest level since January 2009, Australian Bureau of Statistics data show.

“Australia’s strong labour force figures stand in stark contrast to the stubbornly high unemployment rates still being experienced in many other advanced economies, where the aftershocks from the crisis are continuing to reverberate,” Employment Minister Simon Crean said in a statement.

The strength of the report saw financial markets price out any chance of an interest rate cut this year, a move that had been toyed with given the uncertainty generated by Europe’s debt problems.

RBS Australia senior economist Felicity Emmett said the Reserve Bank may “sit on its hands” if global financial markets continue to sharply deteriorate, but she thought a rate cut was unlikely unless the world economy slipped back into recession.

“The ongoing strength in the labour market confirms our view that the RBA still has a tightening bias, given that falling unemployment is likely to put pressure on wages with the potential to add to inflationary pressures next year,” Ms Emmett said.

The IMF has maintained its previous growth forecasts for Australia due to “still-robust commodity prices boosting private domestic demand”.

It predicts growth of 3.0 per cent in 2010, accelerating to 3.5 per cent in 2011, as it did in April.

It has revised up its growth forecast for world growth to 4.6 per cent in 2010 from 4.2 per cent previously, while leaving its 2011 forecast at 4.3 per cent.

“The new forecasts hinge on implementation of polices to rebuild confidence and stability, particularly in the euro area,” it said.

Treasurer Wayne Swan said the IMF report showed Australia remains a “world leader” in the global recovery.

“Together with today’s strong employment figures, the IMF’s report shows the Australian economy is still well ahead of the curve,” he said.

Mr Swan said the Australian economy was well placed to benefit from its proximity and links to the world’s fastest growing region – Asia.

The IMF said Asia had only limited direct financial linkages to the most vulnerable euro area economies.

“But a stall in the European recovery that spilled over to global growth would affect Asia through both trade and financial channels.”

In IMF’s accompanying update of it Global Financial Stability Report it said while the most acute market strains seen in late April and early May had “receded somewhat”, “market confidence remained fragile”.

Source: COLIN BRINSDEN, ECONOMICS CORRESPONDENT July 8, 2010 – AAP